Wednesday, March 4, 2015

Today we are excited to be giving you a local market update and letting you know what has been happening in the Orange County real estate market. We've got some really good news to report.

First of all, interest rates are still near historic lows and the loan programs out there for buyers keep getting better and better, including new 3% down options from Freddie Mac and Fannie Mae. If you have been thinking about buying or refinancing, now is an opportune time to do so.

Secondly, the number of homes that are under contract is up by 20% from January to February of this year vs the same period last year.

So what does this mean for real estate? It means more buyers are looking right now, more offers are being written, and more homes are going under contract at a faster rate than they have in the last 7 years.

If you've been thinking about moving, either upgrading or downsizing, this could be the best time to do so for a long time. There are more homes to choose from on the market than there were at this time last year, and this is one of the best markets we have had for home sellers in a long time.

If you have any questions regarding real estate that we can answer for you, feel free to give us a call or send us an email. We would love to help you out!